Pemex to Sell $1 Billion in Securities

NEW YORK -- More than a month after investors fled from emerging-market bonds, the sector has recovered enough to accommodate large issues from some higher-rated nations.

Today, Mexican oil concern Petroleos Mexicanos, or Pemex, will sell $1 billion of six-year securities via Lehman Brothers and HSBC. The floating-rate notes are expected to yield between 1.30 and 1.35 percentage points more than the London Interbank Offered Rate.